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Potential British Pound Sterling Trust (FXB) Trade Has 2.65% Downside Protection

Nov 07, 2017 ( via COMTEX) --

British Pound Sterling Trust (<a href="">FXB</a>) is a good candidate for a covered call at the $128 level. The Jun 15, 2018 call at that price should fetch a credit of about $3.39, which means the entire position has a net debit of about $124.68. This trade has 1.31% downside protection. Another option would be to buy the FXB Jan 18, 2019 $111 call instead of holding a long position in the stock. This lowers the net debit to $15.39, but the position only has 1.31% downside protection. Technical indicators for the stock are bearish and British Pound Sterling Trust has a 52-week low of $117.48 and 52-week high of $132.65.

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